Lucabryan @Lucabryan: "Bank of England Meeting Update..."

United Kingdom

Bank of England Meeting Update 💷🏦 It was a pleasure to discuss key issues with members of the public, Bank of England staff, and a member of the Monetary Policy Committee. Reflections from the Bank: The surge in energy prices we saw following Russia’s invasion of Ukraine in February 2022 had a big impact on the rate of inflation and cost of living in the UK. Higher energy prices and higher prices of goods we buy from abroad drove inflation to over 11% in autumn 2022. As well as issues in the global economy, there were also pressures on prices from developments here in the UK. Along with higher prices for their products, businesses had more job vacancies than there were people to fill them. This is because there were fewer people seeking work following the pandemic. This means that employers were having to offer higher wages to attract job applicants. What to Expect: The Bank remains cautiously optimistic. While some economic data appears promising, inflation and the rise in poverty continue to be concerns. This mixed picture suggests the Bank may proceed carefully with any future rate cuts. $GBPUSD (GBP/USD) $UK100 (UK100 Index (Non Expiry)) $BTC (Bitcoin) $ISF.L (iShares Core FTSE 100 UCITS ETF (Dist)) $EURGBP (EUR/GBP)

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